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Russia has huge surplus of foreign cash right now. If anything, I would expect billionaries to get into crypto, since what would you hodl instead: Russian Roub
by thriftwy 4y ago
Russia has huge surplus of foreign cash right now. If anything, I would expect billionaries to get into crypto, since what would you hodl instead:
Russian Rouble and risk its volatility?
USD in bank and risk its freezing?
Physical printed USD? Not available in sufficient quantities.
- eimrine 4y agoHow a Russian billionaire can get in crypto now? All he can is to suck all bitcoins on local markets, I can not see any possible connection between US miners and Russian buyers with dollars.
- viraptor 4y agoIt doesn't have to be that direct. I mean, if we're taking billionaires, they have connections in various industries - I'm sure they could organise some services/shipments from China to be paid in rubles on one side and crypto on the other. If it's worth doing for them for the future, they can setup discounted pay-in-btc gateways today. As far as I know, Chinese market is still not restricted for them. Same for India.